How to Buy NEO Coin? Best Exchanges and Digital WalletsNEO, first China’s open-source Blockchain technology, had a remarkable surge in price during the previous year. Its potential has discovered but the NEO team and investors still have many challenges ahead. Learn how and where to buy NEO.
- What is NEO?
- How to Buy NEO – The Chinese Ethereum?
- NEO Digital Wallet
- Buy NEO with Credit Cards and Fiat Currencies
- Where to Buy NEO with Bitcoin or Ethereum?
- NEO vs. Ethereum: Can NEO Overcome Ethereum?
- What is the Future of NEO?
What is NEO?
NEO, previously known as Antshares, is the first open source cryptocurrency launched in China in 2014. 100 million NEO coins were issued. NEO changed the name on 22nd June 2017, with NEO being the Greek word for newness, novelty, and youth. Chinese Ethereum and Ethereum’s killer are also names given to NEO.
NEO has one more crypto-token called GAS, which was formerly known as ANC-Antcoins. A total of 100 million GAS tokens are available for production, each GAS token generated with the creation of each block. It is estimated that it will take approximately 22 years for the number of GAS tokens to increase from 9 million to 100 million.
The difference between NEO coins and GAS tokens is that NEO represents the ownership of the NEO blockchain, while GAS gives the right to use the system.
NEO is a non-profit community-based blockchain project that utilizes blockchain technology and digital identity to digitize assets, to automate the management of digital assets using smart contracts, and to realize a “smart economy” with a distributed network.
How to Buy NEO – The Chinese Ethereum?
The first step in order to buy NEO is to open a digital wallet that stores NEO and GAS.
Open NEO Digital Wallet
Luckily, open a digital for NEO coin is not a complicated process. Here are some of NEO wallets that allow you to store the currency.
The official NEO wallet – The official NEO community wallet. Available for mobile, desktop and web.
Binance – Binance is an exchange and a web wallet with the advantage to trade and store your cryptocurrencies, although it’s safer to transfer your NEOs to a safe digital wallet after your purchase through Binance.
Ledger Nano S – A hardware wallet AKA cold wallet. The ledger is the best option to keep your cryptocurrencies safe and secure.
NEO Tracker – A ‘light’ web wallet that has been developed independently from NEO and allows NEO holders to interact with and explore the NEO blockchain via the web.
NEON Wallet – Beneficial to hold your NEO in this wallet as it allows you to claim your GAS.
Buy NEO with Credit Cards and Fiat Currencies
Depending upon the exchange, not many exchanges allow the purchase of NEO coins with regular money which makes the process easier as one can pay with a credit card or wire transfer while others only allow the purchase of NEO coins with other cryptocurrencies such as Bitcoin or Ethereum.
Currently, the only exchange that accepts fiat money (USD, EUR, GBP, etc.) in order to purchase NEO is Hitbtc.
Where to Buy NEO with Bitcoin or Ethereum?
When looking to purchase NEO coins with Bitcoin or Ethereum, buyers can purchase directly on the exchange and then transfer it to another any exchange that supports NEO. In that case, we recommend finding an exchange that supports Bitcoin and NEO such as Hitbtc.
Buying Bitcoin or Ethereum is particularly easy with methods of payment including credit card, bank transfer, and Skrill. Here is a list of recommended exchanges:
Now, after you purchased Bitcoin or ETH, you can open an account in any of the below exchanges, search for NEO/BTC or ANS/BTC and then apply the transaction.
NEO vs. Ethereum: Can NEO Overcome Ethereum?
This is probably the first question to ask when considering NEO’s future and potential. The two, NEO and Ethereum are fighting for the same position in the ICO market and the crypto world. Eventually, it will be the technology that determines which one prevail.
There is no doubt that in some aspects, the technology of NEO is better than Ethereum. Yet, Ethereum has been a founder of the ICO market and established a well-known platform. That’s a hard competition for NEO.
A big tip: NEO can thrive should China’s ICO market will reopen for crowdfunding. In that case, one thing to consider in the future is that if China cancels the ICO’s ban, NEO is a strong buy.
In terms of YTD return, Ethereum may be the front-runner in the ICO market, being the founding crypto of the industry, but it is far from the best performer in the market. NEO investors would have made 38,521% year-to-date compared with Bitcoin’s 18,739% gain.
What is the Future of NEO?
NEO has certainly drawn a significant amount of attention this year and the markets will be looking for more news on how existing partners such as Microsoft see NEO’s blockchain technology fitting into the corporate landscape.
Since NEO is relatively new, much of NEO’s future earnings power has yet to be priced in. So, investors who are convinced that NEO will be embraced by the corporate world in the years ahead would do well to invest now.
Still, the NEO team and NEO coin holders have some important challenges ahead: NEO has a strong role in the ICO market, in particular, China. The ICO market is still in its birth and Ethereum controls the token crowdfunding. NEO has an advanced technology, perhaps better than Ethereum which makes the coin a risky and rewarding investment.